EUR/USD
EUR/USD is falling back toward 1.0400 in European trading on Thursday. Unexpected French Q4 GDP contraction, ECB rate cut expectations and a renewed US Dollar uptick weigh on the pair. German and EU GDP data eyed ahead of ECB verdict.
GBP/USD
GBP/USD holds lower ground below 1.2450 in the early European session on Thursday. Renewed US Dollar buying and a cautious market environment drags the pair lower. Traders refrain from placing big bets on the major ahead of the US Q4 advance GDP data release.
USD/JPY
The Japanese Yen (JPY) retains its bullish bias through the early European session on Thursday, with the USD/JPY pair sliding further below mid-154.00s and moving back closer to over a one-month low touched earlier this week. The growing market conviction that the Bank of Japan (BoJ) will hike interest rates again by the end of this year continues to underpin the JPY. Apart from this, a fresh leg down in the US Treasury bond yields, resulting in a further narrowing of the US-Japan yield differential, turns out to be another factor lending support to the lower-yielding JPY.
AUD/USD
The Australian Dollar (AUD) extends its losing streak against the US Dollar (USD) for the fourth consecutive day on Thursday. However, the AUD/USD pair gained ground after the release of the Export Price Index. Data from the Australian Bureau of Statistics showed export prices rose by 3.6% quarter-over-quarter in Q4 2024, reversing a 4.3% decline in Q3 and marking the first increase since Q4 2023.
NZD/USD
The NZD/USD pair recovers some lost ground to around 0.5660, snapping the three-day losing streak during the early Asian session on Thursday. The US Dollar (USD) retreats from the weekly high of 108.30 as investors await tariff certainty from US President Donald Trump.
USD/CAD
The USD/CAD pair gains ground to around 1.4420 during the late American session on Wednesday. The US Dollar (USD) strengthens broadly after the US Federal Reserve (Fed) left interest rates steady as widely expected but gave scant clues about further reductions in borrowing costs this year.
USD/CHF
USD/CHF steadies after two consecutive days of gains, trading around 0.9070 during the Asian session on Thursday. This decline is mainly attributed to a weaker US Dollar (USD). The US Dollar Index (DXY), which tracks the Greenback against six major currencies, hovers slightly below the 108.00 mark at the time of writing.
CRUDE OIL
Oil prices were little changed on Thursday as markets braced for threatened tariffs by U.S. President Donald Trump on Mexico and Canada, the two largest suppliers of crude oil to United States, and awaited a meeting of OPEC+ producers.
Gold price (XAU/USD) regains positive traction following the previous day’s two-way price move and trades near the top end of its weekly range, above the $2,765 level during the early part of the European session on Thursday.
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